PODD News & Events

Insulet (PODD) announced the appointment of Mike Panos as Executive Vice President, Chief Commercial Officer, effective immediately. In this role, Panos will lead Insulet's global commercial organization, reporting to President and Chief Executive Officer Ashley McEvoy. He will also be a member of the Executive Leadership Team. Panos brings 30 years of commercial leadership experience in the medical technology sector, most recently serving as Leader, Sales Excellence at Stryker Corporation (SYK)

Investor sentiment is being seared by images of burning cargo ships blazing across the major media outlets last night and headlines out this afternoon that Iranian boats are placing mines to threaten commercial ships in a bid to choke off a major shipping route in the Strait of Hormuz and inflict economic damage on the West.  Equity markets finished the day near the lows with broad-based losses as Industrials and Consumer Cyclical sectors were hit especially hard.  Energy remains bid thanks to Crude Oil having ripped higher for the second consecutive day to trade above $96, while the Vix  has jumped north of the 27-handle.   Meanwhile, Treasuries are not attracting a flight to safety bid.  The yield on the 10-year Note is now near 4.3% - up almost 30 basis points from the Friday just before missiles were fired on Tehran - as implications of inflationary pressures stoked by higher oil prices muddy the outlook for renewed easing by the FOMC.In the opening hour of the evening session, the mood is less panicked for the time being as S&P 500 and Nasdaq 100 futures hold steady, up about 0.2%.  Precious metals are trading lower for the second consecutive day, tracking the strengthening inverse correlation with US Dollar as the greenback rallied once again.Among key afterhours earnings, Adobeinvestors were not enthused by the company's better than expected Q1 results, and the news of its CEO leaving after 18 years on the job compounded pressure on stock that has already been impacted by the AI-threat panic in the software space.  Shares are down over 7% and tested the downside of $250 level - the lowest since late February - with year-to-date losses for Adobe now approaching 30%.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Eastman Kodakup 11.6%Nektar Therapeuticsup 3.0%Rubrikup 1.5%DOWN AFTER EARNINGS -Ulta Beautydown 8.1%Adobedown 7.4%ServiceTitandown 7.2%SentinelOnedown 4.9%Lennardown 1.3%ALSO LOWER -PAR Technology Corporationdown 22.7% after convertible debt offeringInsulet Corporationdown 7.6%

The company states: "Insulet initiated a voluntary Medical Device Correction for specific lots of Omnipod(R) 5 Pods after identifying a manufacturing issue through its ongoing product monitoring. This action applies to specific identified lots distributed in the United States, and all other Omnipod 5 Pods and Omnipod(R) products remain safe to use. Insulet identified that certain Pods from specific lots may have a small tear in the internal tubing that delivers insulin. If this occurs, insulin may leak inside the Pod instead of being fully infused into the body as intended. If insulin is not delivered properly, users may experience high blood glucose levels due to under-delivery of insulin. In the most severe cases, prolonged and persistent high blood glucose levels can lead to diabetic ketoacidosis, a serious medical condition that requires prompt medical treatment. Insulet has received 18 reports of serious adverse events associated with high blood glucose levels, including hospitalization and DKA. No deaths have been reported. This issue does not affect continuous glucose monitoring systems or CGM readings. Following its investigation, Insulet has implemented updates to its manufacturing processes and quality controls to strengthen detection and prevention and further support the integrity of its products. The Pods involved in this correction represent approximately 1.5% of annual Omnipod(R) 5 pod production globally. Insulet continues to manufacture and ship Omnipod(R) 5 Pods and does not anticipate disruption to customer shipments, product availability, or new patient starts."